Once you decide to file for Chapter 7 or Chapter 13 bankruptcy, the next step is to learn about the filing process. The articles below will help make the process more manageable. Below you can learn about:
When completing the bankruptcy forms, you must provide the value of each item of your personal property, such as cars, furniture, jewelry, and the like. You will list these values on Schedule B of the bankruptcy forms, as well as a few other forms.
When you file for Chapter 7 or Chapter 13 bankruptcy, you must complete a packet of forms. On bankruptcy Schedule I: Your Income, you include your current monthly income from all sources. On bankruptcy Schedule I: Your Income, you include your current monthly income from all sources.
Question I’m planning on filing a Chapter 7 bankruptcy and have also fallen behind in my mortgage payments so I’m expecting to lose my home to a foreclosure. Should I file bankruptcy before or after the foreclosure? Answer You’ll most likely gain more if you file for bankruptcy before your home
In general, it’s not a good idea to incur additional debt immediately prior to filing for bankruptcy. If you need to buy a car to get to work, whether you should purchase it before or after filing for bankruptcy depends on: whether you already have a reliable vehicle how good your credit is whether
A Chapter 13 bankruptcy typically takes three to five years to complete. But life rarely stays the same during that period. If you filed a joint Chapter 13 case with your spouse, a divorce can significantly affect your pending bankruptcy. Read on to learn more about what happens if you get a divorce
If you plan to file for bankruptcy, taking some steps ahead of time can make your case go more smoothly. In some circumstances, moving your money to another account, stopping automatic payments, and making sure you are current on utility payments will ensure that your money is where you need it during
Sometimes Chapter 13 debtors need or want to convert their bankruptcy case from a Chapter 13 to a Chapter 7 bankruptcy. And sometimes the bankruptcy court will force you to convert from Chapter 13 to Chapter 7
There are many reasons why debtors convert their Chapter 7 bankruptcy to a Chapter 13 case. Some debtors simply make too much money to qualify for Chapter 7 bankruptcy and must convert to avoid dismissal of their case.
In most cases, you begin your bankruptcy case by filing your bankruptcy petition with the United States Bankruptcy Court. But figuring out the location of the correct court to file your case is not always easy. There are 94 federal judicial districts in the United States -- each with a bankruptcy court.